Required information [The following information applles to the questions displayed below.] Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2021 . 150 shares of preferred stock and 2,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 : March 1 Issue 2,500 additional shares of coneon stock for $20 per share. Apri1 1 issue 150 additional shares of preferred stock for $35 per share. June 1 Declare a cash dividend on both comnon and preferred stock of $0.75 per share to all stockholders of eecorll June 30 Pay the cash dividends declared or June 1. August 1 Purchase 250 shares of common treasury stock for $17 per share. Octobar 1 Reissue 150 shares of treasury stock porchased on August 1 for $10 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock. $1.500; Common Stock, $2,500; Additional Paid In Capital, \$19,000; and Retained Earnings, \$11,000, Net income for the year ended December 31,2021 , is $7,400. Required: 1. Record each of these transactions. (If no entry is required for o porticular transoction/event, select "No Journal Entry Required" in the first account field.)